ERR. The Bank of Moscow has received, upon authorization of the Financial Inspection, a direct equity stake in Eesti Krediidipank, becoming, in reality, the lender’s owner.
According to the Estonian Securities Central Depository (ESCD), yesterday 40% of Eesti Krediidipank’s shares moved and the Bank of Moscow became a direct owner of Eesti Krediidipank.
Financial Inspection board member Andres Kurgpõld said that by law the inspection’s authorization is needed to buy a big stake in a bank. “Until now the Bank of Moscow held an interest of around 90% in Eesti Krediidipank via Latvijas Biznesa Banka," he added.
